Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making

To accomplish the goals of your organization It is https://thekey-partners.com/what-is-a-board-management-software/ imperative to be aware of the assets in your company and how they interact. Strategic asset management provides a structure that allows for consistent, repeatable and transparent decisions and actions based on a thorough analysis of the benefits, costs, and risks throughout the life cycle of physical assets. Find functional interdependencies that can be prioritized for preventive maintenance and decrease the amount of downtime that is not planned and the cost of repairs. Maximize your ROI by determining the optimal combination of performance and costs across your entire infrastructure.

The process of strategic asset management is a comprehensive and progressively elaborate set of documents processes and digital tools which align physical infrastructure investments with the overarching strategic goals of the organization. It begins with a thorough review of the top-down investment options for physical infrastructure. This includes balancing capital and operational expenses from a total expense (TOTEX) perspective, leveraging asset condition data, and considering current service levels and community requirements.

The process can also be used to inform staffing, resource planning, and upgrade or replacement plans with the correct information. It can be used to reduce the time spent on work orders as well as reduce downtime and boost the efficiency of your team.

In the end, the method can be used to establish the strategy for achieving sustainability goals through maximising asset utilization. This can be achieved by load balancing, asset sharing or redeployment strategies. It may also involve implementing new contracts or reviewing current ones with suppliers or contractors in order to enhance the environmental and energy performance.

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